人参类保健食品：中药材保健食品备案生效，市场有望持续扩大 头豹词条报告系列

Investment Rating - The industry rating for ginseng health food is 4 stars [25] Core Insights - Ginseng health food is categorized under traditional Chinese medicine and is expected to see continuous market expansion due to favorable policies and increasing demand from the aging population [4][7][24] - The market size of ginseng health food grew from 10.415 billion RMB in 2019 to 12.139 billion RMB in 2023, with a compound annual growth rate (CAGR) of 3.90%. It is projected to reach 15.104 billion RMB by 2028, with a CAGR of 4.70% [23][24] Industry Definition - Ginseng health food refers to health products primarily made from ginseng, a valuable resource in traditional Chinese medicine known for its various health benefits [5][6] Industry Classification - Ginseng health food can be classified into several dosage forms, including capsules, oral liquids, tinctures, and tablets, with capsules being the most common [6] Industry Characteristics - The industry is characterized by favorable policies supporting traditional Chinese medicine, a growing number of participants, and a rich resource base of ginseng [7][8][10] Development History - The industry has evolved through three stages: the budding phase (1970-1999), the rapid development phase (2000-2015), and the maturity phase (2016-2024), with significant regulatory improvements and technological advancements [11][12][14] Supply Chain Analysis - The supply chain consists of upstream raw material suppliers, midstream manufacturers, and downstream sales channels, with ginseng health wine emerging as a popular product type [15][19] Market Size - The market size for ginseng health food is expected to continue expanding due to increased production, favorable policies, and rising health awareness among consumers [23][24] Policy Overview - Recent policies have facilitated the entry of traditional Chinese medicine into the health food sector, with ginseng officially included in the health food raw material directory as of May 2024 [24][28] Competitive Landscape - The competitive landscape is tiered, with leading companies like Tongrentang and Kangmei Pharmaceutical dominating the market, leveraging their deep integration within the traditional Chinese medicine industry [33][34]